secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2021-09-02T23:59:59+00:00
Accession:  0001564590-21-046799
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics Q1 net sales up 51% to $287.8M; EPS $0.76 vs $0.54 YoY
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- Net income $29.1M ($0.76 diluted EPS) vs $20.7M ($0.54) in prior-year quarter; income from operations up 147% to $34.1M.
- Automotive segment sales rose 56.5% to $195.8M; Industrial segment sales up 51.0% to $78.5M.
- Electric and hybrid vehicle applications were 16% of net sales; company sees continued EV product growth.
- Quarterly dividend increased from $0.11 to $0.14 per share; $7.6M spent on share repurchases (157,513 shares).
- Fiscal 2022 guidance reaffirmed: net sales $1,175–$1,235M and diluted EPS $3.35–$3.75, subject to supply chain risks.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000156459021046799/0001564590-21-046799-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000156459021046799/mei-8k_20210902.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-046799

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